SMC Global BLKashyap-Top Investment Idea For Diwali 2010-Upside 40-50 per cent It's service portfolio extends across the construction of factories and manufacturing facilities, information technology (IT) campuses, commercial and residential complexes, malls and hotels. During the fiscal year 2010, the company`s infrastructure segment had bagged a prestigious project worth Rs 500 crore from the Delhi Metro Rail Corporation. It's subsidiaries include Soul Space Projects, BLK Lifestyle, Security Information Systems (India) and BLK Infrastructure. Investment Rationale BLK has a strong order book of Rs 40 billion as on September 2010 spread across various industries, which is almost four times its FY10 sales. The order life is two to three years thus giving revenue visibility of the company in the near term. During the fiscal 2011 it has added about 20-25 billion of fresh orders. The company has strengthened its foothold in the Government sector projects, being lowest bidder for two prestigious projects from M/s All India Institute of Medical Science for approximately 5 billion plus in the month of July 2010, and is hopeful to get many more orders in this segment in current financial year. BLK posted a robust 40% increase in revenue for the quarter ended June, 2010, compared to a modest 2% rise in the three months ended March. This was led by execution progress on its ongoing projects and monetization from realty projects. The firm also reported 30% increase in the net profits. Retail project of company`s 100% subsidiary company SoulSpace Projects is on track. The subsidiary is putting up close to 23 mn sq feet of commercial and residential projects spread in Chandigarh, Mohali, Bikaner, Pune, Amritsar and Bangalore. The first project in Bangalore is likely to get opened in December 2010 while Amritsar goes commercial by March 2011. BLK has already monetized 140- 150 million and expect additional 1,000- 1,500 million from the whole project. Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints. Nothing in this article is, or should be construed as, investment advice. |
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